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CAKE

CAKE, PancakeSwap - Top 20 incoming ?Hello all, The CAKE/USDT and CAKE/BUSD pairs run like clockworks these days. Even during the weekend drop, all major levels were respected and the price reacted perfectly upon touching them. Yesterday we saw the pair dropping all the way down to the very, very solid resistance at $19, so now I think we can assume it turned into support on the daily chart (yet to be confirmed on the next test of that level). So, the price reacted immediately and the trading pair went back into the old $21.5-$25 trading range. Also, regained positions above the 21-day EMA and the diagonal uptrend line. The bullish scenario here will be to form a solid bullish engulfing candle on the daily chart, then make a quick move to $25 (probably fueled by the recent token burn and the upcoming IFO) with an extension to $45. Such a big move will result in 91 percent of price increase. When added to the current marketcap, it will place CAKE at #22 on CoinGecko's Top 100 list, still way behind the leading DeFi project - UNISWAP. The bearish scenario will be to loose the range and close below $21, which will put the CAKE/USDT pair in position to re-test the support line at $19. Regards
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by FutureBlockchain
2
CAKE your way!CAKE has officially broken out and has moved past it's previous all time high. It appears to be starting the third wave impulse. A large bullish candle for the day all but confirms it. Previously I had estimated a target of 33, but I think 38 is more accurate. (I had not set the fib-extension to log scale same as the chart) The chart itself looks beautiful and you can see CAKE has been riding on the upward trend line using it as support. The RSI also has a positive upward trend it has been following. All in all the CAKE looks delicious! BINANCE:CAKEUSDT
C
by variousCryptos
1
#CAKE, #PancakeSwap Breaking out of Formation?A quick look at #PancakeSwap (#CAKEUSDT, #Binance, 4HR): Whether we see a wedge or a broadening formation, CAKE is broke up from it with a nice spike in volume. If confirmed, it could be a good entry. If it fails, price could go back to the $23-$22 level. If you want to read more about PancakeSwap on CoinMarketCap, click here . What do you think? Still learning here, so any constructive feedback and positive vibes to improve my analysis are welcome. But if you enjoy my chart, please like, comment or follow me. :) Thank you and Happy trading! ------------------------------------------------------ Needless to say, this is not financial advice!
Long
by BitfulMind
14
CAKE/ Tether Trendline BreakoutCAKE/USDT Trend Continuation Trade. we are not registered or licensed in any jurisdiction whatsoever to provide investing advice or anything of an advisory or consultancy nature. and are therefore are unqualified to give investment recommendations. Always do your own research and consult with a licensed investment professional before investing. This communication is never to be used as the basis of making investment decisions, and it is for entertainment purposes only.
Long
by CryptoTrend-Alerts
2
Bullish on CAKEIn my personal opinion, $CAKE could go up to 37$ in mid-term. As we can see, even though the market dropped we touched the bottom line of the parallel channel and now we are riding the reversal patterns. Pitchfork is showing us going straight up through fibonacci levels. We should withstand the support line and aim for the middle line of the parallel trend channel. In case we fix in the middles, there is a high probability of us touching the upper side of the channel, which could lead up to 37$ level. Goals: 24.7 - 26.7 - 28.3 - 33.7 - 37 SL: 21.2
BINANCE:CAKEUSDLong
by DeFi-tacular
3